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17.10.2012 12:25 PM
Daily Trading Forecasts (October 17, 2012)

 EURUSD: As concerns this bullish pair, any bearish correction could take the price to the support level of 1.3000. However, it is expected to be temporary. A continuation of the price towards the north would take it to the resistance level of 1.3100.

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USDCHF: Bearish USDCHF continues to go down reaching the level of 0.9250 and going beyond. A bullish correction could take the price temporarily back to the resistance level of 0.9300. After it, the overall plunge should continue.

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GBPUSD: As concerns the cable, a long trade would now make sense. It is possible that the price would reach the distribution zones at 1.6150 and 1.6200, though a retracement towards the accumulation zones at 1.6000 is also possible.

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USDJPY: The price target for this instrument remains at 79.00. After it is broken, the price will struggle to reach the supply territory at 79.50. But one should pay attention to the demand zone at 78.50.

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EURJPY: The bullish breakout on the EURJPY is now fast and furious. The supply zone at 103.00 has been besieged, it will be broken on the upside. There is a near-term demand zone at 102.50.

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